Based on analysis from the Association of British Insurers, the typical price paid in the first quarter of 2024 was £635
Motorists have been issued a stark warning after car insurance prices increased by around £157 over the last year.
The ABI’s motor insurance tracker analyses nearly 28 million policies sold a year and the claims paid against policies. Mervyn Skeet, the ABI’s director of general insurance policy, said: “We understand that car insurance costs are putting pressure on household finances. These figures show how competitive the motor market is, with insurers absorbing significant cost rises but keeping prices relatively stable.
The association said it recommends that anyone struggling with the cost of their cover speaks to their insurer.
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